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SEC is going to sue Ripple investors
To date, the case of recognizing XRP as a security is being actively considered. The Securities and Exchange Commission is involved in the case, but it is categorically opposed to investors working with XRP cryptocurrency to defend Ripple in court. In particular, the commission took this position after some holders tried to intervene in the trial. The SEC said it will open legal action against them if they do not stop trying to interfere. Although it was already noted earlier that investors achieved this right precisely with the help of the court. The indignation of XRP holders is understandable - they protect their interests as depositors and have the right to defend their positions.
Recall that the SEC filed a lawsuit against Ripple, accusing the company that, hiding behind the sale of tokens, it sold securities, moreover, unregistered and for a fairly large amount - more than 1.3 billion US dollars. Investors defended the company and their interests, and even achieved the right to support through the courts, but the Securities and Exchange Commission categorically denies the possibility of interference in the case on their part. In particular, the SEC believes that allowing cryptocurrency holders to participate in the process could lead to enforcement action.
Ripple executives have previously expressed their dissatisfaction with the US governments policy towards their token. As the CEO said, treating cryptocurrency as a security is outrageous and unwise. According to the CEO, this principle is not adhered to in any of the states, whatever the status of the cryptocurrency is determined by government policy. Garlinghouse believes that the cryptocurrency regulation system in the United States of America lacks clarity and unambiguity of decisions, since cryptocurrencies are considered in different ways - there is no single approach. At the same time, it can be noted that, in general, the US policy on cryptocurrencies is quite tough - the government sets a serious framework and restricts the use of digital finance, while many neighboring states are loosening their grip on cryptocurrencies, thereby attracting investments in their economy.